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Animal Spirits


Ahh...there's nothing quite like finishing on top!


I want you to know that I am typing this last post with one hand...and I'm in severe pain. On my way back from the restroom, I got jumped by a swarm of critters yelling "WHO'S AN ATHLETE NOW, TODDO!" and "BOO'S YOUR DADDY, RAIDER BOY!" Evidently, I really pissed off the wrong crowd with my last post when I questioned if horses were indeed athletes. All I can do is offer my most sincere apologies to the clan and tell the truth: Junior posted that last column!

Alas, it wasn't meant to be for our equestrian excellence as Lance Armstrong won the poll as the greatest athletic achievement of all-time. Secretariat placed second (after a spirited sprint down the home stretch) while the 1980 U.S hockey team and Jesse Owens tied for third. An honorable mention must be included for any participant in the Special Olympics-which was a nice thought by our fellow Minyan Robert. Also-and I'm quite serious on this-any wise guy who picked Adam Vinatieri and the New England Patriots is docked one Twinkie and must stand in the corner.

The tug-o-war continues as the bulls and bears arm wrestle at S&P 900 and, truth be told, the techs "should" be having the same discussion at NDX 1050...which they're not. All in all, some green on the screen made sense as the tape was pretty oversold and we'll enter Hump Day with a fresh head and positive vibes. There hasn't been much coming out of the conferences but, nonetheless, they continue in full force tomorrow and we'll be paying close attention. Also, for all you semi-players out there, XLNX holds its mid-quarter update after the close and that should color the SOX tomorrow.

I'm finishing the session with both my legs in the metaphorical bear costume (50% conviction on the short side) and, despite the funny looks I get from passersby on the street, I'll go home that way. With only twelve trading days left in the calendar year (and many players taking off the last week), you can bet that angst levels are starting to uptick. We don't offer advice in Minyanville but if we did, I would suggest that you don't press your bets either way into year-end. It's crowded, it's emotional and it's risky-and the last thing you want for Christmas is a spanking!

I've got a "thing" after the close so this will likely be my final post of the day. Thanks for spending another session by my side and if you didn't hit 'em hard today, don't fret-tomorrow's a new day.

Have a peaceful night.

position in qqq

Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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